Mukesh Ambani and Gautam Adani exit $100 billion wealth club as fortunes decline

Mukesh Ambani and Gautam Adani have both fallen out of the $100 billion wealth club as of December 17, 2024. Ambani's net worth is now $96.3 billion, while Adani's stands at $80.8 billion. Ambani's wealth has declined due to poor performance in his company's energy and retail sectors, alongside slowing sales and rising debt concerns. Reliance Industries shares have dropped 3.80% this year, contrasting with the BSE Sensex's 11.70% increase. Adani's businesses have faced significant challenges, including regulatory issues and declining investor confidence. The Adani Group's market capitalization has decreased by Rs 87,805 crore in 2024, with major losses in key stocks like Adani Green Energy and Adani Enterprises.